Consumer
Canadian Clothing Company Gildan Drops After Abrupt CEO Change
- Shares down as much as 14% after company names new CEO
- Glenn Chamandy terminated ‘without cause’, statement says
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Shares of Canada’s Gildan Activewear Inc. fell as much as 14% on Monday, the most since March 2020, after an apparent conflict with the clothing manufacturer’s board led to the sudden departure of its chief executive officer.
The Montreal-based company appointed former Fruit of the Loom executive Vincent Tyra to the roles of president and CE0, ending the 40-year career of co-founder Glenn Chamandy.